Mets Owner Steve Cohen Had an Even Better Year Off the Field
Sunday, Jan 12, 2025 8:54 am ET
3min read 
As the owner of the New York Mets, Steve Cohen has made a significant impact on the baseball world. However, his influence extends far beyond the field, as his investment prowess and strategic decision-making have contributed to a remarkable year off the field as well. In this article, we will explore how Cohen's ownership of the Mets and his investment activities have shaped his wealth and influence in 2024.
One of the key factors contributing to Cohen's wealth growth in 2024 is the performance of his hedge fund, Point72 Asset Management. As of April 2024, the firm managed $35 billion in assets, with an 8.7% year-to-date return (Business Insider, 2024). This strong performance has undoubtedly contributed to Cohen's overall net worth.
Another significant aspect of Cohen's wealth growth is his ownership of the New York Mets. In 2020, Cohen purchased the team for $2.4 billion, the highest price ever paid for an MLB team at that time (Forbes, 2024). While the financial impact of this acquisition on Cohen's overall net worth is difficult to quantify precisely, it is clear that the investment has contributed to his wealth and influence.
Cohen's investment in the Mets has also been marked by aggressive spending and a commitment to rebuilding the team's competitive position. In December 2024, he authorized the signing of Juan Soto to a record $765 million contract, which could potentially reach $805 million. This deal represents the largest contract in sports history and further demonstrates Cohen's dedication to improving the Mets' performance on the field.
In addition to his ownership of the Mets, Cohen's strategic investments in various industries have contributed to his wealth growth. One notable example is his investment in Navitas Semiconductor Company (NVTS), a firm focused on gallium nitride power integrated circuits. Point72 has been steadily buying shares of NVTS since the first quarter of 2023, with a 2.34% stake as of the second quarter of 2024 (Motley Fool, 2024). This investment could potentially yield significant returns, given the growing demand for gallium nitride devices in various industries.
Furthermore, Cohen's plans to launch an AI-focused hedge fund in 2024, capitalizing on the boom in artificial intelligence and AI-related hardware, could further boost his wealth and influence in the financial world. This new fund is expected to raise $1 billion, with Cohen and Point72 employees contributing to the initial investment (Bloomberg News, 2024).
In conclusion, Steve Cohen's ownership of the New York Mets and his strategic investment activities have contributed to a remarkable year off the field in 2024. His wealth growth, driven by the strong performance of Point72 Asset Management and strategic investments in various industries, has solidified his status as one of the wealthiest and most influential figures in the financial world. As Cohen continues to make strategic decisions and invest in promising opportunities, his wealth and influence are likely to grow, further cementing his legacy as a successful investor and baseball team owner.
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